Sep

6

The market itself adapts to the trader's inputs, in particular, his systems. The larger the size used in various systems the bigger the splash, and smaller movers will adapt and counter the edge used in size.

This is what causes cycles. Once the system loses its edge, it is withdrawn, or counter movers cease front running it as its effectiveness has waned, and flipping the system, the counter system to the failed system, doesn't work either.